Art Laffer Praises Cain’s 9-9-9 Plan: Paul Ryan Loves Cain’s 9-9-9 Plan

Dr. Art Laffer, known as “the Godfather of supply-side economics” has endorsed praised Herman Cain’s 9-9-9 Plan. There’s more: Congressman Paul Ryan says he “loves” it. See a video below.

Art Laffer

Human Events (read more):

The famed economist told HUMAN EVENTS that the proposal was pro-growth and would create the proper conditions for America’s economy to expand and thrive again.

“Herman Cain’s 9-9-9 plan would be a vast improvement over the current tax system and a boon to the U.S. economy,” Laffer told HUMAN EVENTS in a statement. “The goal of supply-side tax reform is always a broadening of the tax base and lowering of marginal tax rates.”

Added Laffer: “Mr. Cain’s plan is simple, transparent, neutral with respect to capital and labor, and savings and consumption, and also greatly decreases the hidden costs of tax compliance. There is no doubt that economic growth would surge upon implementation of 9-9-9.”

Laffer also said that “such a system provides the least avenues to avoid paying taxes, yet also maintains the strongest incentives for work effort, production, and investment.” …

“9-9-9” calls for a nine percent tax on income, a nine percent national sales tax, and a nine percent corporate income tax.

Paul Ryan

Congressman Paul Ryan (R-WI), the Chairman of the House Budget Committee, in an interview with the Daily Caller said he “loves Herman Cain’s plan,” saying it is a “good starting point for debate.” Ryan said he is “more of a flat-tax kind of guy. Herman Cain is really more of a Fair Tax kind of guy. It’s great for America to see those movements join forces and get serious about changing history.” Ryan said it is “great to see such bold ideas.”

Herman Cain explains his 9-9-9 Plan in the video below. Read more about Herman Cain’s 9-9-9 Plan here.

Herman Cain Explains his 9-9-9 Plan (video)

Posted by Maggie @ Maggie’s Notebook

  • Well, two endorsements from people I respect and admire… NOT enough!

    Seriously, opening another revenue stream via a VAT is a TERRIBLE idea that I couldn’t be more against… he is dreaming when he says the rate will be held in check by “the people”- yeah, right!

    In Europe it’s 22% on major purchases… if we had had a VAT tax when Obama took office ours would be over twenty percent already too!

    • RR, If it is handled the way he recommends, it won’t happen until the current tax code is repealed. You know what chance there is of that – but that is what should happen. I think he has to explain how Congress will not bump the rate. Currently he says it will take a Super Majority to change the 9%. I know that isn’t an easy thing to do, but….

      From what I remember about the Fair Tax, one of the big differences between it and the Flat Tax is that the rate cannot be changed by Congress. I don’t know how that works.

      I don’t think there is any intention to create a new revenue stream, but to replace the one we have.

    • RR, also I like the idea of a consumption tax (in the right environment). The people who buy the least, pay the least.

  • Hank Clemens

    What about us seniors who now can claim some medical expenses on our Fed Tax returns? We lose that deduction and wind up getting a national sales tax on top of our state tax. tell me again how this is agood idea.